Cost disclosure, performance reporting and client statements

The Client Relationship Model - Phase 2 (CRM2) amendments to NI 31-103 that came into effect on July 15, 2013 were phased-in over a three-year period. These amendments introduced new requirements for reporting to clients about the costs and performance of their investments, and the content of their accounts. The amendments represent a significant step forward in client communications.

IIROC and MFDA member rules are materially harmonized with the CSA’s CRM2 requirements and were implemented on the same schedule. SRO members who comply with equivalent member rules are exempted from the CRM2 requirements in NI 31-103.